The Facts
The US Dept. of Labor has reported 467,000 new jobs in Jan. despite Omicron. Also, 709,000 more jobs than previously estimated were reportedly created in Nov. and Dec.
Employment is still almost 3M below the pre-pandemic peak.
The Spin
Narrative A
The report indicates a strong and sustained economic recovery from the downturn caused by the pandemic. Even the lowest paid workers have benefited from improved job security.
Narrative B
These statistics are part of a broader and more complex picture of economic health and should be treated tentatively. Even if every job loss since the pandemic were recouped, full economic recovery would not be inevitable.
